Highest employment rate for September in 23 years with 348,000 new jobs added
- 5 years ago
And the employment figures for September are out.
And the good news is that they show a brighter picture for jobseekers for the second month in a row.
Hong Yoo with the details.
For two consecutive months, the number of newly added jobs in South Korea is above 300-thousand.
The employment rate last month was the highest for the month of September in 23 years and the unemployment rate was the lowest for the month in 5 years.
According to Statistics Korea, the number of employed was more than 27-point-4 million, with 348-thousand new jobs added on-year.
By age group, those in their 20s, 50s and 60s saw job creation go up, but those in their 30s and 40s still saw job creation fall.
Looking at employment by industry, jobs in health and social welfare services grew the most with 170-thousand new jobs.
But the manufacturing sector continued to see job creation fall for the 18th consecutive month, down 111-thousand on-year.
"The fall in manufacturing jobs can be seen as the reason why the number of employed people in their 30s and 40s fell.
And the increase in employment for people in their 60s was due to the government's fiscal expenditure on creating short-term jobs."
The unemployment rate was the lowest in 5 years for the month of September with 3-point-1 percent.
That is a 0-point-5 percentage point drop on-year.
At a macro-economic finance meeting on Wednesday, the first vice finance minister Kim Yong-beom said that there has been an improvement in both the quantity and quality of employment, but uncertainties in the internal and external environment remain.
Employees more than 65 years old increased remarkably to 231 thousand but so has the elderly population.
Kim pointed out that as structural factors such as population growth continue to slow down, internal and external conditions surrounding our economy are tough.
The government plans to make efforts to implement policies aimed at boosting economic vitality while steadily pushing for measures to improve the quality of the economy and structural reforms to counter mid- to long-term risks.
Hong Yoo, Arirang News.
And the good news is that they show a brighter picture for jobseekers for the second month in a row.
Hong Yoo with the details.
For two consecutive months, the number of newly added jobs in South Korea is above 300-thousand.
The employment rate last month was the highest for the month of September in 23 years and the unemployment rate was the lowest for the month in 5 years.
According to Statistics Korea, the number of employed was more than 27-point-4 million, with 348-thousand new jobs added on-year.
By age group, those in their 20s, 50s and 60s saw job creation go up, but those in their 30s and 40s still saw job creation fall.
Looking at employment by industry, jobs in health and social welfare services grew the most with 170-thousand new jobs.
But the manufacturing sector continued to see job creation fall for the 18th consecutive month, down 111-thousand on-year.
"The fall in manufacturing jobs can be seen as the reason why the number of employed people in their 30s and 40s fell.
And the increase in employment for people in their 60s was due to the government's fiscal expenditure on creating short-term jobs."
The unemployment rate was the lowest in 5 years for the month of September with 3-point-1 percent.
That is a 0-point-5 percentage point drop on-year.
At a macro-economic finance meeting on Wednesday, the first vice finance minister Kim Yong-beom said that there has been an improvement in both the quantity and quality of employment, but uncertainties in the internal and external environment remain.
Employees more than 65 years old increased remarkably to 231 thousand but so has the elderly population.
Kim pointed out that as structural factors such as population growth continue to slow down, internal and external conditions surrounding our economy are tough.
The government plans to make efforts to implement policies aimed at boosting economic vitality while steadily pushing for measures to improve the quality of the economy and structural reforms to counter mid- to long-term risks.
Hong Yoo, Arirang News.